Answers to your Frequently Asked Questions ("FAQs") are posted on this page. To ask a question, please use our automated form. FAQs will be posted every Wednesday. FAQs will be posted daily during the week prior to the deadline for submitting Pricing Proposals and Qualification Materials.”

All FAQs

Go to Page:    1 (Newest)    2    3    4    5    6    7    8    9    10    11    12    13    14    15    16    17    18    19    20    21    22    23    24    25    26    27    28    29 (Oldest)    | << Back to FAQ Categories

  • FAQ-189:
    How will the price of the SRECs that I am selling to the EDC be determined?

    If your Project receives an award, the price that you will receive for each SREC over the term of the SREC Purchase and Sale Agreement is the price that you submitted in your Pricing Proposal.

    02/17/2011 in Purchase and Sale Agreement

  • FAQ-188:
    If the owner of the SREC PSA is a PPA provider and prior to installation the host decides they'd like to use a different PPA provider, is assignment of the SREC Purchase and Sale Agreement possible? And If so, what is the process for transferring ownership of the SREC PSA?

    We assume that by owner of the SREC Purchase and Sale Agreement ("SREC PSA") you are referring to the owner of the Project, who is also the signatory to the SREC PSA. We also assume that you are inquiring about the process for transfer of ownership once the Project has received an award and the Owner has fully executed the SREC PSA. In that case, assignments of the SREC PSA are possible as long as the conform with Section I of the SREC PSA. In particular, such assignments require the written consent of the EDC. Please see this section of the SREC PSA for further details.

    02/17/2011 in Purchase and Sale Agreement

  • FAQ-187:
    Assume the following: 1. A bid is not disqualified for improper response or exceeding the developer cap, 2. The bid is below the confidential price limit 3. The EDC goals are not met by the volume of qualified bids. Is the SM required to accept the bid? Or, is there a final review by the SM and EDC where they can reject a price simply because it's an outlier to other prices, even though it's below the confidential price limit?

    The Solicitation Manager does not "accept" or "reject" bids; rather, the Solicitation Manager presents final recommendations to the Board of Public Utilities ("Board") and the Board renders a decision on the results for a solicitation and any awards made under the Program. The final recommendations of the Solicitation Manager are presented to the Board at the conclusion of a review process in which the EDCs, Board Staff, and Rate Counsel participate and provide input. 

    As provided by the Stipulation approved by the Board, the recommendations of the Solicitation Manager include a determination of the competitiveness of bids. The Stipulation states, with respect to the evaluation of the competitiveness of the bids, that this determination will consider, among other things, the lowest SREC price bid, the SACP, and the distribution of SREC prices for all projects submitted. Please see sections 4, 7, and 12 of the Stipulation, which describe this process in more detail. The Stipulation can be found on the Documents page of our web site, under the heading "Documents from the NJ CEP - Utility Financing Programs page".

    02/17/2011 in Evaluation of Proposals

  • FAQ-186:
    Are we to submit the Pricing Proposal electronically and then have the Qualification Materials sent to you by Thursday, February 11, 2011 as well?

    That is correct. 

    02/16/2011 in Requirements for Proposals

  • FAQ-185:
    Can a residential system that exceeds 10 kW participate in the SREC-Based Financing Program?

    Yes, a residential system of any size can participate in the EDCs’ SREC-Based Financing Program.  (The limit of 10 kW is for the payment of the EDC Solar Financing Incentive (“ESFI”); please contact 1886-NJSMART or NJREinfo@csgrp.com for more information).

    02/16/2011 in General

  • FAQ-184:
    What is the definition of SRP?

    SRP stands for SREC Registration Program.  Please find more information here:

    02/16/2011 in General

  • FAQ-183:
    Can an EDC enter into a contract for a Project residing in a different EDC territory under this SREC Based Financing Program?

    Each EDC will enter into contracts only with Projects in its own territory and thus purchase SRECs only from Projects in its own territory.

    02/16/2011 in General

  • FAQ-182:
    If my Project received and award in a prior solicitation, but I did not proceed to contract within the timeframe specified in the RFP Rules, can I still execute the SREC PSA at this time?

    As part of the Qualification Materials, the Owner of the Project certifies that it accepts all the terms of the SREC Purchase and Sale Agreement ("SREC PSA") and that the Owner will sign the SREC PSA within five (5) business days of receiving a Final Notice of Award by the EDC.  If the Owner of a Successful Project does not enter into the SREC PSA within the expected timeframe, the Owner has failed to uphold a commitment made in the Qualification Materials, and the Owner will lose the cash deposit that was due fourteen (14) days after the New Jersey Board of Public Utilities' approval of the awards for the solicitation.  

    The Owner of a Successful Project has the option to re-submit a Proposal for the same Successful Project in a future solicitation under the following conditions.  The Owner may re-submit a Proposal for the same Successful Project at the same or at the lower price; in that case, the Owner should ask the Solicitation Manager to specify the documents that will be required to have the Project re-considered.  The Owner may not re-submit a Proposal at a higher price for the same Successful Project unless:  (a) the Owner of the Project provided the cash deposit for the Successful Project in the previous solicitation within the timeframe specified in Paragraph ‎1.2.20; AND (b) the period between the submission of Pricing Proposals is no less than six (6) months.  Please note that a Project is the “same” Project as a previously Successful Project if the Projects are in the same location and have the same NJCEP Application Number.

    02/16/2011 in Purchase and Sale Agreement

  • FAQ-181:
    Section P.2 of the SREC PSA (on page A-9) states that the agreement must uphold a form of "rate treatment and cost recovery" for the purchaser that is no worse for the purchaser than was provided for as of the date hereof. If SREC market value were to fall below contracted price over the terms of this 10 year agreement, is it feasible that Purchaser shall have ability to terminate contract if the parties fail to obtain new terms of agreement during the commencement of good faith negotiations?

    A key premise of the stipulation establishing the SREC-Based Financing Program (“Program”) was that the EDCs recover all Program costs.  Revenues received from selling SRECs will defray a portion of these costs and the Board Order approving the stipulation and authorizing the Program establishes a RGGI rate rider that provides for the recovery of all costs not defrayed by SREC sales.  The contractual provision to which you refer would only come in to play in the event that the RGGI rate rider, or a similar mechanism, was not continued in a way that enabled the EDC to recover the costs under the Program.  Under the current regulatory framework, a decline in the SREC value in itself does not provide the ability to terminate the contract to the Purchaser. 

    02/16/2011 in Purchase and Sale Agreement

  • FAQ-180:
    We are awaiting receipt of the NJCEP Application Number of several projects. Given the NJCEP Application Number is what identifies the project in the Expression of Interest (“EOI”), how can we complete and submit our EOIs in a way that will let us identify the EOI for a particular project (since we do not have the NJCEP Application Numbers yet)?

    You may identify your Projects in a number of ways prior to obtaining the NJCEP numbers. You may use a cover letter to identify the Projects. Alternatively, you may identify the Project either in the filename of your Expression of Interest, or in entering the Project Name instead of the NJCEP number. Please note, however, that you must submit one (1) Expression of Interest for each Project for which you intend to present a Proposal under the Program.

    02/16/2011 in General

Go to Page:    1 (Newest)    2    3    4    5    6    7    8    9    10    11    12    13    14    15    16    17    18    19    20    21    22    23    24    25    26    27    28    29 (Oldest)    << Back to FAQ Categories